Banking News

The prospect of record low savings rates continuing is forcing many savers to review how they allocate their capital in an attempt to achieve the level of returns they have previously enjoyed. Investing in the stock market inevitably involves putting your capital at risk however there is a middle ground which continues to attract increasing interest – the structured deposit. With this in mind, we take a deeper look at this savings alternative to help understand why more and more savers are starting to see their appeal. more

With the current economic environment asking savers far more questions than it gives answers, it is good to know that there are alternatives available. We take a look at one such alternative that is proving particularly popular as savers face the harsh reality that the more traditional fixed rate savings products are failing to meet their needs. more

Millions of savers are facing the harsh realisty that there is little hope of change to interest and savings rates in the coming years. However, those with Cash ISAs do have one further option to consider – the ISA transfer. We take a closer look at why this is becoming a rising trend as well as what this could mean for those looking for the potential to improve the returns from their capital. more

With so many savers joining income investors in the hunt for high yields, being able to quickly understand and compare the numerous options available has become even more important. We therefore compare two of our most popular income investments to help understand what is driving their popularity and why they might meet your income needs. more

Andy Murray and Zara Phillips encouraged to quit RBS sponsorship

18 February 2009 / by Rachael Stiles

Sports stars which are being sponsored by banks that have received bail-outs from the taxpayer should consider cancelling their contracts, a minister has said.

Celebrities such as tennis player Andy Murray and equestrian granddaughter of the Queen, Zara Phillips, have signed deals as 'global ambassadors' for Royal Bank of Scotland (RBS), hired to entertain its clients.

RBS is thought to be paying out a total £200million worth of sponsorship fees to celebrity sports figures, and Treasury Select Committee member John Mann said that these stars should "consider that this is borrower's money."

RBS has accepted a £20billion bail-out of taxpayers' money, and is expected to be heading for an annual loss of £28billion, Mr Mann argued, telling Reuters that he thinks it "would go down very well with the British public if some of them were to cancel their contracts."

Mr Mann added that "If some of them were to cancel their contracts they'd become real heroes."

RBS is also facing criticism for planning to pay up to £1billion in bonuses to staff, despite the taxpayer holding a 58 per cent stake in the bank, after announcing last week that it will be making 2,300 British workers redundant.

A spokeswoman for the bank said: "We are reviewing all our sponsorship activity as we look to cut costs.

"We are doing out best to strike the right balance between the benefits of sponsorships bring to our business and the communities they operate in while managing costs down within contractual constraints."